Does anyone own or have specific experience in this market? 

Feel free to reach out. 

I am sure someone else on here with more experience in this area will chime in on that.   

This was on KSL as well and the sellers were very very motivated.This year I have also purchased two single-family homes that I am rehabbing and both allow for lot splits so I will have a renovated home to sell or rent and a free and clear lot with each one.

I am happy to share some experiences and perspectives with you.The biggest thing I could suggest is to network.

Most homes for sale on the MLS are not looking to go with seller financing, in my experience usually you get those types of offers from the seller looking for buyers that want seller financing which is few and far between.I think your best bet here could be to offer sub2 but even that is a far stretch.

I am looking for some people to connect with in that area that may have more experience as we are out of state investors and have heard that Mississippi has great opportunities for cash flow and for people starting out in this industry. 

Does anyone have experience in this market and can recommend good local managers?

It is mostly used in the highest priced large city markets.If doing this as a TIC, this is very much a specialty that few lawyers have experience.  

A bad tenant can screw things up royally and/or make your day to day life harder than necessary especially if you have little experience with such matters.